Press Release Details

First Quantum Minerals Announces its Preliminary 2017 Production and Sales

TORONTO, Jan. 26, 2018 /CNW/ - First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM") today announced its preliminary production and sales for the three months and year ended December 31, 2017. Total copper production and sales for the year exceeded the prior year by approximately 6% and 8%, respectively.

Amounts are preliminary and subject to final adjustment. The final amounts and the 2018 to 2020 market guidance will be published in the Company's financial results for fourth quarter and Year 2017 scheduled for release on February 12, 2018.

Total

Q4 2017

Q3 2017

Q4 2016

Year 2017

Year 2016

Copper production (tonnes)1

154,319

145,376

146,101

573,963

539,458

Copper sales (tonnes)

151,905

148,894

136,265

580,130

535,613

Nickel production (contained tonnes)

-

6,325

6,206

17,837

23,624

Nickel sales (contained tonnes)

865

7,099

6,073

18,683

25,882

Gold production (ounces)

51,904

47,213

54,234

199,736

214,012

Gold sales (ounces)

50,723

51,729

45,620

201,376

232,783

Zinc production (tonnes)

3,555

4,378

11,084

20,723

28,862

Zinc sales (tonnes)

3,282

5,378

11,971

21,851

27,361

Kansanshi

Q4 2017

Q3 2017

Q4 2016

Year2017

Year2016

Copper production (tonnes)1

64,800

58,706

65,950

250,801

253,272

Copper sales (tonnes)2

74,974

64,311

64,904

267,700

268,459

Gold production (ounces)

36,363

33,297

40,331

140,595

148,220

Gold sales (ounces)

35,910

37,054

30,592

139,735

156,840

Sentinel

Q4 2017

Q3 2017

Q42016

Year2017

Year 2016

Copper production (tonnes)

57,190

53,533

47,785

190,683

139,600

Copper sales (tonnes)

44,767

50,855

39,494

177,360

115,782

Las Cruces

Q4 2017

Q3 2017

Q4 2016

Year 2017

Year 2016

Copper cathode production (tonnes)

18,700

17,488

17,156

73,664

73,643

Copper cathode sales (tonnes)

17,903

17,049

15,656

74,664

73,359

Guelb Moghrein

Q4 2017

Q3 2017

Q4 2016

Year 2017

Year 2016

Copper production (tonnes)

7,155

6,756

6,078

28,791

32,818

Copper sales (tonnes)

6,811

6,765

5,840

28,999

36,330

Gold production (ounces)

13,270

11,435

11,140

49,213

53,951

Gold sales (ounces)

12,384

11,616

11,959

50,453

63,335

Ravensthorpe

Q4 2017

Q3 2017

Q4 2016

Year 2017

Year 2016

Nickel production (contained tonnes)

-

6,325

6,206

17,837

23,624

Nickel sales (contained tonnes)

865

7,099

6,073

18,683

25,882

Çayeli

Q4 2017

Q3 2017

Q4 2016

Year 2017

Year 2016

Copper production (tonnes)

3,284

5,492

5,741

16,523

25,330

Copper sales (tonnes)

4,266

6,462

7,257

17,716

26,795

Zinc production (tonnes)

379

653

1,610

3,326

8,062

Zinc sales (tonnes)

-

1,944

2,387

4,435

6,825

Pyhäsalmi

Q4 2017

Q3 2017

Q4 2016

Year 2017

Year 2016

Copper production (tonnes)

3,190

3,401

3,391

13,501

14,795

Copper sales (tonnes)

3,184

3,452

3,114

13,691

14,708

Zinc production (tonnes)

3,176

3,725

9,474

17,397

20,800

Zinc sales (tonnes)

3,282

3,434

9,584

17,416

20,536

Pyrite production (tonnes)

154,855

184,486

4,770

692,124

490,480

Pyrite sales (tonnes)

114,712

91,569

111,273

418,743

517,922

1 Production presented on a copper concentrate basis, i.e. mine production only. Production does not include output from the Kansanshi smelter.2 Sales include third-party sales of concentrate, cathode and anode attributable to Kansanshi (excluding copper cathode and anode sales attributable to Sentinel).

On Behalf of the Board of Directors of First Quantum Minerals Ltd. G. Clive NewallPresident